READING, PA– Penske Logistics said it has reached an agreement with Mitsui & Co., Ltd. to acquire Transfreight North America, a provider of third-party logistics and supply chain solutions. Financial terms were not disclosed.

“This acquisition provides us with a very complementary mix of business and services as well as new team members from a highly customer-focused culture,” said Penske Logistics President Marc Althen. “Customers from both companies will benefit from the strengths of the combined organization’s industry expertise, technological capabilities, and the breadth of supply chain and logistics solutions.”

Transfreight North America currently operates from 27 locations across the U.S., Canada and Mexico, with headquarters in Erlanger, Kentucky, and in Kitchener, Ontario.

The deal is subject to closing conditions, including regulatory approvals and is expected to close in the next two months.